Costs Yearly
School of Choice: Colorado School Of Mines
Colorado School of Mines is a prestigious public college located in Golden, CO. I will be attending this engineering institute as an in state student. I want to go to this college for they are a the cream of the crop of engineering schools. At this school I will learn about many things.It will let me become the engineer I want to be by giving me a double major in Civil and Petroleum Engineering. This is an awesome college that challenges its students with extreme amount of rigor and that’s why I want to attend it.
Monetary
Failure to Receive job - Employers rarely higher college students
- Monthly = $1,625
- Yearly = $19,500
- Four Years = $78,000
- Monthly = $1,290
- Yearly = $15,500
- Four Years = $62,000
- Monthly = $827
- Yearly = $9,922
- Four Years = $39,688
- Monthly = $220
- Yearly = $2,640
- Four Years = $10,560
- Monthly = $30
- Yearly = $360
- Four Years = $1,440
- Monthly = $37.5
- Yearly = $450
- Four Years = $1,400
- Monthly = $45
- Yearly = $540
- Four Years = $2,160
Total Monetary Cost: $185,248
NonMonetary
Stress - Pays for counseling and other sources of stress relief
- Monthly = $80
- Yearly = $960
- Four Years = $3,840
- Monthly = $140
- Yearly = $1,680
- Four Years = $6,720
- Monthly = $100
- Yearly = $1,200
- Four Years = $4,800
- Monthly = $40
- Yearly = $480
- Four Years = $1,920
- Monthly = $20
- Yearly = $240
- Four Years = $960
- Monthly = $60
- Yearly = $720
- Four Years = $2,880
- Monthly = $100
- Yearly = $1,200
- Four Years = $4,800
Total Non Monetary Cost: $25,920
Total Cost: 211,168
Benefits Yearly
Monetary
High paying summer internships - For gaining experience in my field while off
- Monthly = $800
- Yearly = $9,600
- Four Years = $38,400
- Monthly = $200
- Yearly = $2,400
- Four Years = $9,600
- Monthly = $100
- Yearly = $1,200
- Four Years = $4,800
- Monthly = $250
- Yearly = $3,000
- Four Years = $12,000
- Monthly = $400
- Yearly = $4,800
- Four Years = $19,200
- Monthly = $8,500
- Yearly = $102,000
- Four Years = $408,000
- Monthly = $208,333.33
- Yearly = $2,500,000
- Four Years = $10,000,000
Total Monetary Benefit: $10,492,000
NonMonetary
Challenging Work - Is highly valued in my moral system
- Monthly = $1,000
- Yearly = $12,000
- Four Years = $48,000
Financial Security - Peace of mind knowing you won’t lose your job
- Monthly = $2,000
- Yearly = $24,000
- Four Years = $96,000
Intellectual Development
- Monthly = $500
- Yearly = $6,000
- Four Years = $24,000
Creative Thinking - Allowed to think outside the box
- Monthly = $750
- Yearly = $9,000
- Four Years = $36,000
Chance to better society - With more money I will be able to give more back to the community
- Monthly = $2,000
- Yearly = $24,000
- Four Years = $96,000
Chance to succeed greatly - With college you gain knowledge and motive
- Monthly = $10,000
- Yearly = $120,000
- Four Years = $480,000
Being able to cope with high amounts of stress - Due to attending most stressful school in Colorado
- Monthly = $400
- Yearly = $4,800
- Four Years = $19,200
Total Non Monetary Benefits: $799,200
Total Beneficiary Cost: $11,291,200
Benefit After Cost: $11,080,032
Reflection
After my cost benefit analysis I have learned that college is worth the price. Out of college the benefits are much greater than the costs by $11,080,032. That high amount of money is a longshot, but I know it is achievable if I put the time in. I am very confident in getting the return on this investment for my job’s pay and the investments I will be making will substantially provide me with these benefits. The overall money I will be paying back is $211,268. In college I will be receiving loans for college, yet they will be loans without interest rates for they will be from my parents. They will pay for college if I pay them back in full in a ten year period. Due to interest rates if I was attending school I would prefer to stay in-state at Colorado School of Mines. It is my top choice and this education has a high value to me. With how cheap this college is there is no way that you could persuade me to want to attend any other college. The biggest factor in my tentative tuition cost is the amount of money I spend on lost free time. This is the biggest factor for I’m not sure how much I’ll be spending on lost free time. There are many factors lying within lost free time including time searching for jobs, time commuting, homework time, research time and time in class. Time is money so I definitely put a cost on it. It is definitely the factor that will cost me most and will be most varying. With the cost of loan payments, monthly payment towards the government will cost 5% of my average net income which is not too much to afford.
Conclusion
In my mind too much debt for me would be over $500,000. I am not very worried about debts and loans for I have that handled and settled out already. I believe in the long run the true price of college is what you put on it after you pay tuition and fees, so it basically all adds up from there. From the research I have done my tentative college decision has been strengthened a lot. The information I have received about my college of choice that puts a negative mark on the school is the percentage of alcoholics and the high suicide rate. I believe this also puts a positive view on this school for me for I am looking for a college that will challenge me and help me become the cream of the crop of engineers. If I want to be the best I have to attend the best college and in my mind this is the best college and it’s worth it no matter how high the cost.